Argentina Bio Plasticizers Market Size & Outlook
Argentina bio plasticizers market, 2018-2030 (US$M)
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Argentina bio plasticizers market highlights
- The Argentina bio plasticizers market generated a revenue of USD 56.4 million in 2023 and is expected to reach USD 98.8 million by 2030.
- The Argentina market is expected to grow at a CAGR of 8.3% from 2024 to 2030.
- In terms of segment, epoxidized soybean oil (esbo) was the largest revenue generating product in 2023.
- Castor oil-based plasticizers is the most lucrative product segment registering the fastest growth during the forecast period.
Bio plasticizers market data book summary
| Market revenue in 2023 | USD 56.4 million |
| Market revenue in 2030 | USD 98.8 million |
| Growth rate | 8.3% (CAGR from 2023 to 2030) |
| Largest segment | Epoxidized soybean oil (esbo) |
| Fastest growing segment | Castor oil-based plasticizers |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Epoxidized soybean oil (ESBO), Castor oil-based plasticizers, Citrates, Succinic Acid, Other Products |
| Key market players worldwide | Avient Corp, Basf SE, Cargill, DIC Corp, Dow Inc, Evonik Industries AG, Lanxess AG, Solvay SA, PTT Global Chemical PCL ADR, Jungbunzlauer Suisse |
Other key industry trends
- In terms of revenue, Argentina accounted for 1.8% of the global bio plasticizers market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil bio plasticizers market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 222.1 million by 2030.
Epoxidized soybean oil (esbo) was the largest segment with a revenue share of 35.28% in 2023. Horizon Databook has segmented the Argentina bio plasticizers market based on epoxidized soybean oil (esbo), castor oil-based plasticizers, citrates, succinic acid, other products covering the revenue growth of each sub-segment from 2018 to 2030.
In 2020, the Argentine Congress passed a law that aimed to reduce plastic waste and promote the use of bioplastics. The law required companies to reduce their plastic waste production, and it promoted the use of bioplastics and biodegradable plastics. This law is expected to increase the demand for bio plasticizers in Argentina over the forecast period.
Furthermore, the renewable energy law provides incentives for the production and use of renewable energy sources, including biomass-based energy. As bio-plasticizers are derived from natural sources such as vegetable oils and plant starches, they are considered renewable energy sources. Therefore, this law is expected to encourage the production and use of bio-plasticizers in Argentina.
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Bio Plasticizers Market Scope
Bio Plasticizers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Argentina bio plasticizers market size, by product, 2018-2030 (US$M)
Argentina Bio Plasticizers Market Outlook Share, 2023 & 2030 (US$M)
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